Jennison Associates LLC Takes Position in Glaukos Corporation $GKOS

Jennison Associates LLC purchased a new position in Glaukos Corporation (NYSE:GKOS) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 487,020 shares of the medical instruments supplier’s stock, valued at approximately $52,433,000.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Glaukos by 2.6% in the 1st quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after purchasing an additional 198 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Glaukos by 1,405.9% during the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock worth $252,000 after purchasing an additional 2,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Glaukos by 41.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock worth $22,636,000 after buying an additional 67,668 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Glaukos during the second quarter worth $203,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Glaukos by 10.7% in the second quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after buying an additional 773 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,115,340. This represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 61,273 shares of company stock valued at $8,882,003. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Truist Financial upped their price objective on shares of Glaukos from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright assumed coverage on shares of Glaukos in a report on Monday, July 6th. They issued a “buy” rating and a $168.00 price objective for the company. Citigroup raised their target price on shares of Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their target price on Glaukos from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.85.

Glaukos Trading Up 0.1%

GKOS opened at $156.97 on Monday. Glaukos Corporation has a one year low of $73.16 and a one year high of $161.53. The stock has a market capitalization of $9.22 billion, a PE ratio of -47.86 and a beta of 0.75. The business’s 50 day moving average price is $134.39 and its 200 day moving average price is $122.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. As a group, equities research analysts expect that Glaukos Corporation will post -0.57 EPS for the current year.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.